Why?
The IFRC introduced Forecast-based Action by the Disaster Relief Emergency Fund in early 2018. The FbA will allow for funding of pre-agreed actions to a specific disaster to be automatically allocated based on scientific triggers. It is initially established as a separate financial pool ‘fenced’ from the current DREF, but financial contributions with a flexibility to support both mechanisms are being accepted. The FbA is expected to have a turnover of approx. CHF 1M in 2018 with a steady increase in the coming years.
What?
The IFRC introduced Forecast-based Action by the DREF in early 2018. The FbA will allow for funding of pre-agreed actions to a specific disaster to be automatically allocated based on scientific triggers. It is initially established as a separate financial pool ‘fenced’ from the current DREF, but financial contributions with a flexibility to support both mechanisms are being accepted. The FbA is expected to have a turnover of approx. CHF 1M in 2018 with a steady increase in the coming years.